A record 202 million people could be unemployed across the world in 2013, the International Labour Organization (ILO) said on Tuesday. Five years on from the onset of the financial crisis, unemployment is on the rise again as economies around the world lose jobs and the fragile recovery is threatened by "incoherent monetary policy" in the US and Europe, said the ILO. According to United Nation's agency's latest report, Global EmploymentTrends 2013, 6% of the world's workforce were without a job in 2012. The number of jobless people around the world rose by 4m in 2012 to 197m. Young people were the worst affected: nearly 13% of those under 24 were unemployed. Some 35% of all young unemployed people have been out of work for six months or longer in advanced economies, up from 28.5% in 2007. "This is a massive waste of the lives of young people and their talents and extraordinarily damaging to the people themselves and their societies even if stability were not to be affected," said ILO chief Guy Ryder. The situation is being exacerbated by "incoherent monetary policy," in the world's largest economies (the G20), said the ILO. "In comparison with the crisis years of 2008 and 2009, the stance of monetary and fiscal policies in G20 countries has lost coherence, thereby increasing uncertainty and limiting policy effectiveness to support the recovery," said the report. The global economy is expected to show a modest gain in 2013, with output up 3.6% compared to 3.3% in 2012, according to the International Monetary Fund. But this fragile recovery is threatened by political uncertainty on both sides of the Atlantic that threatens recovery worldwide, said the ILO. In the US, the recovery is being challenged by negotiations over the debt ceiling, and spending cuts associated with the fiscal cliff. In Europe, a modest recovery is dependent on the ability of political leaders to "establish credible policies to promote fiscal integration of Euro-area economies". "Incoherence...

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Youthunemployment, which encompasses individuals in the age range of 15 to 24, is the demographic that is the most likely to be unemployed. This can often be attributed to the difficult time youth may have transitioning from school to work, especially for those who have neither experience nor education to secure a job in the current labor market. The purpose of this report is to discuss the current youthunemploymentrate, comparing it to the real unemploymentrate, comparing it to the U.S. youthunemployment and any trends that are either occurring because of the youthunemploymentrate, or that are influencing the youthunemploymentrate.
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with few skills and little education. But in recent months a large number of
employees have been laid off in the retail and restaurant businesses.
Unemployment has spilled over to the service sector from manufacturing sector.
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...﻿
Youthunemployment
The youthunemployment problem has become a major problem in our country. The youth represents more than half of the total population of Bhutan and is considered as a major workforce. The youth are considered as the most energetic class of people who can make either constructive or destructive contribution to the society. If they are not monitored well and remained unemployed, both social and economic problems are inevitable. The need is felt to address the social and economic challenges confronted by the youth in order to help them become productive and responsible citizens of the country.
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...Why is youthunemployment so high?
May 8th 2013, 23:50 by J.F. | NEW YORK
YOUTHunemployment is blighting a whole generation of youngsters. The International Labour Organisation estimates there are 75m 15-to-24-year-olds looking for work across the globe. But this figure excludes a large number of youngsters who do not participate in the labour market at all. Among the 34 members of the OECD, a club of rich nations, it is estimated there are 26m youths not in education, employment or training (so-called NEETs). Similarly, across the developing countries, the World Bank estimates that there are 262m such youths. All told, there are perhaps as many as 290m 15-to-24-year-olds not participating in the labour market— almost a quarter of the world’s youth, and a group almost as large as the population of America. More young people are idle than ever before. Why?
Some of these youths choose not to work. About a quarter of the 290m are south Asian women who do not work for cultural reasons. And under-24s who are working are disproportionately engaged in informal or temporary employment. In the rich world, it is estimated that a third of under-24s are on temporary contracts; in developing countries a fifth are unpaid labourers or work in the informal sector. That is better than not working at all, but is hardly cause for celebration. In total, nearly half of the...

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